“One of the things that has really helped our business is that we are primarily an annual subscription business. About 72 per cent of our member base pay annually, which gives stability to the company,” Mr Lyons said.
Their company now has shareholders’ funds of €120,332, up from a deficit of €181,133 a year earlier, while it has cash of about €1.24 million on its balance sheet, up from €867,000 the year before. The Currency has held 12 events since the end of the financial year, he added, facilitating greater interaction with its members, and has also recently experimented with broadening the mix of its weekend coverage.
The title, which launched just six months before the Covid-19 pandemic, employs eight journalists full-time and has more than 20 contributors.